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WHEREAS, the DEVELOPER intends to cause its required improvements in the Plat <br />to be constructed without financial participation by the CITY; and <br />WHEREAS, no expenditure of CITY funds will be made until the City Code escrow <br />requirements have been completed by the DEVELOPER; and <br />WHEREAS, City Code Section 9.50.50 defines "Stage I" Improvements and "Stage II" <br />Improvements which respective definitions are used herein when reference is made to "Stage I" <br />and "Stage II" Improvements. <br />NOW, THEREFORE, the CITY and DEVELOPER agree as follows: <br />SECTION I <br />STAGE I IMPROVEMENTS AND FINANCIAL GUARANTEES <br />1. City Code Compliance. The CITY approves the Plat conditioned on the DEVELOPER <br />developing the Plat in accordance with the applicable provisions of City Code, Section 9.50, <br />entitled Subdivision. <br />2. Conformance with Plan. The Plat shall be developed pursuant to the final plat and site plan <br />submittal for Northfork Office Condos, revised: <br />3. Preliminary Plat Appro~~al.,The preliminary plat associated with Northfork Office Condos, <br />approved on October 24, ? OQ6, will expire on October 24, 2007. The City Council can extend <br />preliminary plat approval upon request, if a staging plan for final plat is submitted. <br />4. Incorporation of All City. Code` Kequirements. That the recitals above and the applicable <br />provisions of`the City Charter, Subdivision Code, Zoning Code and Public Improvement <br />Code of the CITY, as'amended to date hereof, are incorporated herein by reference. <br />5. Stage I Improvements.:, Stage I~ Improvements shall consist of sanitary sewer lines, <br />municipal «~ater lines, and storm sewer lines, community septic system installation, <br />community well installation, fire suppression system installation, installation of private and <br />public streets `with curb and gutter, and all lot grading. <br />6. Stage I Improvements Required. The improvements the City requires the DEVELOPER <br />to construct within the Plat are as follows: <br />a. Lateral sanitary sewer system <br />b. Lateral watermains and appurtenances <br />c. Lateral storm drainage facilities <br />d. Lot grading and permanent erosion control <br />e. Temporary and permanent erosion control facilities <br />f. Fire suppression services <br />g. Community well facilities <br />-292- <br />Northfork Office Condos <br />Development Agreement <br />Page 2 of 8 <br />